THIS WEEK:IRELAND'S bricks-and-mortar business may be bust, but Dublin-headquartered cement purveyor CRH is expected to announce an increase in revenue to €17.9 billion when it releases its 2011 full-year results on Tuesday. Although it's the biggest name on the Iseq index, fortunately for the group its exposure to the domestic market is very small.
The market is anticipating a solid set of results, with the consensus putting the adjusted earnings per share for the year at 75 to 77 cent. However, investors will be most interested in the group’s forward guidance. Many of its peers in the US and Europe have reported results in line with expectations, but a number have been cautious in their outlook.
With the US accounting for about half of CRH’s profits, it will be interesting to see its take on how the improvement in economic data relating to that region’s property market balances out against the company’s exposure to infrastructure projects, a sector that is under stress. Guidance on the group’s European businesses will also be closely analysed for signs of future weakness, given the austerity measures being implemented across the region.
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